Netflix (NASDAQ:NFLX) Reaches New 12-Month High at $691.49

Shares of Netflix, Inc. (NASDAQ:NFLX) hit a new 52-week high during trading on Friday . The stock traded as high as $691.49 and last traded at $690.84, with a volume of 661178 shares traded. The stock had previously closed at $682.51.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NFLX shares. Evercore ISI increased their price objective on shares of Netflix from $650.00 to $700.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 28th. Morgan Stanley increased their price objective on shares of Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Argus increased their price objective on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research note on Tuesday. Bank of America increased their price objective on shares of Netflix from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $637.34.

Netflix Stock Performance

The firm’s 50 day simple moving average is $638.25 and its 200-day simple moving average is $589.28. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $300.00 billion, a price-to-earnings ratio of 48.14, a P/E/G ratio of 1.47 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same period in the previous year, the business earned $2.88 EPS. The company’s revenue was up 14.8% on a year-over-year basis. Analysts expect that Netflix, Inc. will post 18.31 EPS for the current year.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $38,217.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction on Friday, June 14th. The shares were sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction on Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $38,217.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,385 shares of company stock valued at $44,469,351. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Institutional investors and hedge funds have recently modified their holdings of the business. Valued Wealth Advisors LLC lifted its stake in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 20 shares during the last quarter. Indiana Trust & Investment Management CO lifted its position in Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 28 shares during the last quarter. VitalStone Financial LLC lifted its position in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 56 shares during the last quarter. Scarborough Advisors LLC acquired a new position in Netflix during the 4th quarter worth $32,000. Finally, Beaird Harris Wealth Management LLC lifted its position in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.